Leonardo DRS, Inc. (NASDAQ:DRS) Shares Purchased by Two Sigma Investments LP

Two Sigma Investments LP increased its stake in Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 62.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 73,431 shares of the company's stock after purchasing an additional 28,294 shares during the period. Two Sigma Investments LP's holdings in Leonardo DRS were worth $2,373,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Steward Partners Investment Advisory LLC raised its holdings in shares of Leonardo DRS by 233.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,000 shares of the company's stock valued at $32,000 after purchasing an additional 700 shares in the last quarter. IFP Advisors Inc grew its holdings in shares of Leonardo DRS by 37.0% in the 4th quarter. IFP Advisors Inc now owns 1,944 shares of the company's stock worth $63,000 after purchasing an additional 525 shares during the last quarter. KBC Group NV increased its stake in shares of Leonardo DRS by 42.0% in the fourth quarter. KBC Group NV now owns 3,671 shares of the company's stock valued at $119,000 after buying an additional 1,086 shares in the last quarter. Longboard Asset Management LP acquired a new position in Leonardo DRS during the 4th quarter worth $212,000. Finally, Robeco Institutional Asset Management B.V. acquired a new stake in shares of Leonardo DRS during the 4th quarter worth approximately $213,000. Institutional investors and hedge funds own 18.76% of the company's stock.

Analyst Ratings Changes

DRS has been the topic of a number of research reports. BTIG Research set a $49.00 price target on shares of Leonardo DRS and gave the company a "buy" rating in a research note on Monday, May 5th. Morgan Stanley upped their price target on shares of Leonardo DRS from $34.00 to $44.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 6th. Truist Financial lifted their price objective on shares of Leonardo DRS from $37.00 to $40.00 and gave the company a "buy" rating in a research note on Thursday, April 17th. JPMorgan Chase & Co. raised their price objective on Leonardo DRS from $32.00 to $33.00 and gave the company a "neutral" rating in a report on Friday, February 21st. Finally, Bank of America raised Leonardo DRS from a "neutral" rating to a "buy" rating and set a $40.00 price target for the company in a research note on Friday, March 7th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $41.00.

Insider Activity at Leonardo DRS

In related news, SVP Pamela Morrow sold 8,854 shares of the business's stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $32.84, for a total value of $290,765.36. Following the transaction, the senior vice president now directly owns 17,335 shares of the company's stock, valued at approximately $569,281.40. The trade was a 33.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William Lynn III sold 45,000 shares of the company's stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $32.70, for a total transaction of $1,471,500.00. Following the sale, the chief executive officer now directly owns 328,404 shares in the company, valued at approximately $10,738,810.80. The trade was a 12.05% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 92,354 shares of company stock valued at $3,019,773. 0.34% of the stock is owned by corporate insiders.

Leonardo DRS Price Performance

DRS traded up $1.62 during midday trading on Monday, hitting $43.92. The stock had a trading volume of 1,515,782 shares, compared to its average volume of 731,090. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.70 and a current ratio of 2.11. Leonardo DRS, Inc. has a 1 year low of $22.73 and a 1 year high of $43.95. The business has a fifty day moving average of $37.52 and a 200 day moving average of $34.84. The company has a market cap of $11.68 billion, a P/E ratio of 55.59, a price-to-earnings-growth ratio of 1.41 and a beta of 0.64.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.03. The company had revenue of $799.00 million for the quarter, compared to analysts' expectations of $736.72 million. Leonardo DRS had a return on equity of 10.37% and a net margin of 6.59%. Leonardo DRS's quarterly revenue was up 16.1% on a year-over-year basis. During the same period last year, the firm earned $0.14 earnings per share. As a group, equities analysts forecast that Leonardo DRS, Inc. will post 1.04 earnings per share for the current fiscal year.

Leonardo DRS Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Thursday, May 22nd will be paid a $0.09 dividend. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $0.36 annualized dividend and a dividend yield of 0.82%. Leonardo DRS's dividend payout ratio is presently 41.38%.

Leonardo DRS declared that its Board of Directors has initiated a stock buyback plan on Thursday, February 20th that allows the company to buyback $75.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 0.9% of its shares through open market purchases. Shares buyback plans are often a sign that the company's board of directors believes its stock is undervalued.

Leonardo DRS Company Profile

Leonardo DRS, Inc, together with its subsidiaries, provides defense electronic products and systems, and military support services. It operates through Advanced Sensing and Computing (ASC) segment, and Integrated Mission Systems (IMS) segments. The ASC segment designs, develops, and manufacture sensing and network computing technology that enables real-time situational awareness required for enhanced operational decision making and execution; and offers sensing capabilities span applications, such as missions requiring advanced detection, precision targeting and surveillance sensing, long range electro-optic/infrared, signals intelligence, and other intelligence systems including electronic warfare, ground vehicle sensing, active electronically scanned array tactical radars, dismounted soldier, and space sensing.